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Software Giant Oracle Buys Java Whizz Sun 20 April 2009 Software giant Oracle buys Java whizz Sun 20 April 2009 opened. Oracle's share price was down 1.94 percent at 18.69 dollars. "The acquisition of Sun transforms the IT industry, combining best-in-class enterprise software and mission-critical computing systems," Oracle's chief executive Larry Ellison said in a statement. "Oracle will be the only company that can engineer Software developer Oracle has reached a 5.6 billion an integrated system -- applications to disk -- where dollar deal to purchase Sun Microsystems, the two all the pieces fit and work together so customers do companies announced Monday in a joint communique. not have to do it themselves," he said. Business software giant Oracle announced "Our customers benefit as their systems integration Monday it was buying Sun Microsystems and its costs go down while system performance, reliability Java programming language for 7.4 billion dollars and security go up," he added. after IBM abandoned its bid for the struggling tech company. Oracle said it expects the purchase of Sun to add 1.5 billion dollars to its operating profit in the first The deal amounts to 9.50 dollars per share for one- year and more than two billion dollars in its second time Silicon Valley star Sun, or 5.6 billion dollars, year. and rises to 7.4 billion dollars including Sun's debt and cash. Scott McNealy, chairman of Santa Clara, California- based Sun, which employs more than 33,500 Oracle, in a statement, described the ubiquitous people worldwide, hailed the merger as "an industry- Java language as "the most important software defining event." Oracle has ever acquired" and noted that its fastest growing business, Oracle Fusion Sun's board of directors unanimously approved the Middleware, is based on Java. deal which is expected to close this year pending approval from stockholders and federal regulators. Another Sun product, the Sun Solaris operating system, is the main platform for the Oracle Gartner analyst Andrew Butler said the purchase database, the Redwood Shores, California-based "gives Sun a lifeline they desperately needed" and Oracle's largest business. was "much more about software than hardware." The purchase of Sun also gives Oracle a foothold "The hardware component is less obvious," Butler in the hardware arena. Sun is the fourth-largest said. "I don't think that Oracle will kill the hardware, maker of computer servers but has been steadily but I'm not sure they'll keep all the hardware they're losing market share to failed suitor IBM, Hewlett- inheriting." Packard and Dell. "IBM will try to shrug it off," he adde. "But now they Sun's share price soared on Wall Street following must be looking at their strategy." the purchase announcement, gaining 36.32 percent to 9.12 dollars two hours after the market Butler said the Oracle purchase of Sun was less 1 / 2 likely to receive attention from US anti-trust regulators, which had been one of the concerns surrounding IBM's bid to take over the company. Amitabh Goel, a securities analyst at First Global, said he was "not very positive on the acquisition, as it remains to be seen how Oracle will run a hardware company, with Sun's market share on a declining trend. He said the purchase though was "in line with Oracle's goal to gain share in the data centre market and offer more integrated end to-end products. "With the acquisition, Oracle will now be able to offer an integrated stack of hardware, software, and services to its customers," Goel said. (c) 2009 AFP APA citation: Software giant Oracle buys Java whizz Sun (2009, April 20) retrieved 29 September 2021 from https://phys.org/news/2009-04-software-giant-oracle-java-whizz.html This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. 2 / 2 Powered by TCPDF (www.tcpdf.org).
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